South Lake Tahoe Weekly Real Estate Market Update 11/4/11
November 4, 2011
As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.
The inventory dropped significantly but the market remains strong despite a slight drop in buyer activity. To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales. This past week the market activity ratio had increased from 23.6% to 24.6%. This is the result of the Active listings decreasing by 37 as the Pending sales decreased by 6. The distress sales (short sales and bank owned foreclosures) continue to impact the market which now represents 24.9% of the Active inventory and 64.9% of the Pending sales.
This past week there were 18 new sales for a YTD of 486 sales. These sales ranged from a low of $128,000 to a high of $760,000. There were 4 high priced sales which were on Oneidas St for $480,000, Catalina Dr for $519,000, High Meadows Ct for $672,000 and Pioneer Tr for $760,000. Despite the higher sales the 6 month average sales price dropped by .9% to $340,561. The average days on market are 153 days.
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| Listings as of 11/04/11 at 9:26am |
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| Equal Opportunity Housing * All information deemed reliable, but not guaranteed. |
| Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2011 Rapattoni Corporation. All rights reserved. U.S. Patent 6,910,045 |
Area Market Survey |
| Listings as of 11/04/11 at 9:26am |
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South Lake Tahoe Weekly Real Estate Market Update 10/28/11
October 28, 2011
As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.
The hot start in the 4th quarter is cooling off! To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales. This past week the market activity ratio decreased from 24% to 23.6%. This is the result of the Active listings decreasing by 9 as the Pending sales decreased by 5. Despite the decreasing inventory which is typical for this time of year, the foreclosures continue to replenish the market a steady pace. The distress sales (short sales and bank owned foreclosures) now represents 22.8% of the Active inventory and 65.8% of the pending sales.
There were 16 new sales this past week for a YTD of 468 sales. These sales ranged $115,000 which was a condo on Bonanza to $519,000 which was on Catalina in the Tahoe Keys. The lack of higher priced home sales had decreased the 6 month average by 1.1% to $343,575. The average days on market are 154 days.
South Lake Tahoe Weekly Real Estate Market Update for 10/21/11
October 21, 2011
As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.
The buyer activity remains strong at the bottom end and the high end buyers seem to be missing! To measure the most current buyer activity, I use the Market Activity Ratio, which is the relationship between Active listings and Pending sales. This past week we saw the market activity ratio with a slight increase from 23.9% to 24%. This is the result of the Active listings decreasing by 14 as the pending sales decreased by 4. The distress sales (short sales and bank owned foreclosures) continue to impact our market as it represents 20.9% of the active inventory and 66.4% of the pending sales.
There were 17 new sales this past week for a YTD of 452 sales. The sales ranged from a low of $$45,000 which was a condo on Bonanza Ave to a high of $460,000 which was on E River Park Dr. With the lack of any high end sales the 6 month average sales price dropped significantly by 2% to $$347,262. The average days on market are 154 days.
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South Tahoe Weekly Real Estate Market Update for 10/14/11
October 14, 2011
As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.
The Fall market is hot! Third quarter statistics shows that we are lagging behind 2010. However, my archives show us far ahead for the 4th quarter. To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales. This past week we saw the market activity ratio increase from 23.1% to 23.9% and in Oct. 15th 2010 it was 19.6%. This is the result of the active inventory decreasing by 4 as the pending sales increase by 4. Compared to Oct 15th, 2010 there are 30 less for sale signs out there and 21 more escrows. The distress sales (short sales and bank owned foreclosures) now represent 20.2% of the active inventory and 62.7% of the pending sales.
There were 15 new sales this past week for a YTD of 435 sales. These sales ranged from $142,000 to $610,000. The 3 highest sales were on Fairway Ave for $480,000, Southern Pines Dr for $550,000 and Lupine Tr for $610,000. This decreased the 6 month average sales price by .8% to $354,275. The average days on market are 151 days.
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South Lake Tahoe Weekly Real Estate Market Update 10/5/11
October 5, 2011
As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.
The high end buyers are showing their green for lake front properties and there is still plenty of green at the bottom end of the market but the middle is still struggling. To measure the most current buyer activity, I use the Market Activity Ratio, which is the relationship between Active listings and Pending sales. This past week the market activity ratio increased from 22.7% to 23.1%. This is the result of the Active listings decreasing by 27 as the Pending sales decreased by 5. The distress (bank owned foreclosure and short sales) sales continue to impact the market which represents 22.7% of the active inventory and 57.4% of the pending sales.
This past week there were 7 new sales for a YTD of 420. The sales ranged from $178,000 to 4,200,000. There were 4 high end sales which were on Cascade Ct for $815,000, Lake Tahoe Blvd for $1,200,000, Lighthouse Shores for $3,700,00 and Stateline Ave for $4,200,000. These sales had a huge impact on the 6 month average sales price by raising it by 8.3% to $356,959. The average days on market are 152 days.
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